Orbit Corporation has received an approval whereby the board at its meeting held on February 28, 2012, has discussed and considered the acquisition of Mazda Construction Company.
Further, the company has formulated a committee comprising of a majority of independent directors to evaluate the said acquisition and make recommendations to the board.
Orbit Corporation pursues redevelopment opportunities in the Island city of Mumbai. The company has developed properties spanning over 1.5 million square feet worth several hundred crore, in the prime areas of south Mumbai like Babulnath, Tardeo, Worli, Prabhadevi, Gamdevi.
